Category Archives: Australia

Auto Added by WPeMatico

‘The Ascent of Money’ Author Admits He Got Bitcoin Wrong

'The Ascent of Money' Author Admits He Got Bitcoin Wrong

Harvard professor Niall Ferguson, author of currency history book “The Ascent of Money”, has admitted he was wrong amount Bitcoin and blockchain being a “complete delusion”.

His book The Ascent of Money: A Financial History of the World first published in 2008 was adapted as a television documentary for Channel 4 and PBS, winning an International Emmy Award in 2009.  It examines the long history of money, credit, and banking.

The author now admits he should have listened to his teenage son and bought Bitcoin back in 2004 claiming, with the benefit of hindsight, the decision not to invest in the flagship cryptocurrency was the “worst investment decision of his life”, commenting:

“If I had listened to my son, I would have increased the dollar value of my investment by a factor of 45 — or, if you prefer, I’d have made a return on the investment of 4,436%… The moral of the story is clear: when it comes to technology, pay heed to teenagers.”

Ferguson was speaking at The Australian Financial Review Business Summit earlier this month, now freely admitting that he was “wrong to think there was no… use for a form of currency based on blockchain technology”.

The acclaimed author is the latest to endorse Bitcoin and cryptocurrencies after Twitter’s Jack Dorsey, Tesla’s Elon Musk and Apple co-founder Steve Wozniak all praised the technology recently. Twitter founder Dorsey is so convinced that it is still early days for Bitcoin that he committed to putting by USD 10,000 worth of the cryptocurrency by per week.

Tech entrepreneur Musk ranked 21st on the Forbes list of The World’s Most Powerful People, concurs with Dorsey suggesting, “Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure.”

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: bitcoinnews.com

The post ‘The Ascent of Money’ Author Admits He Got Bitcoin Wrong appeared first on BitcoinNews.com.

International Women’s Day: Women and Crypto – The Direction in 2019

International Women's Day: Women and Crypto – The Direction in 2019

It is International Women’s Day 2019, and a time for Bitcoin News to reflect on a year in print and celebrate women in fintech, and those women of all ages whose lives still remain largely uncelebrated.

The point of International Women’s Day is to look back over the past year and pinpoint the successes and failures in the promotion of equality between the genders. It is also a time to reflect on how to further combat sexual violence, harassment, domestic violence against women, and examine gender power structures, particularly in business.

A new UK government report has revealed that salary imbalance between the genders when it comes to business is still slow to change. Although one in three entrepreneurs are women in the UK — a hugely improved figure — many of the companies run by women are also half the size of those with male directorship. The report goes on to indicate that accelerating female recruitment into business over the next year could add an extra USD 25 billion to the UK economy alone.

One such entrepreneur is Queenslander Leanne Kemp who was named by the World Economic Forum as one of the most promising tech pioneers of 2018. Kemp’s blockchain startup, Everledger, was founded in April 2015, offering a way of tracking the provenance of diamonds; identifying them, and following their ownership history. She now has 2.2 million diamonds listed on Everledger’s blockchain and has now begun to add art, wine, watches jewelry and even natural resources to the blockchain. She maintained:

“We have a responsibility as next-generation technologists to underpin how this technology will form and inform all of us in our roles as citizens of the planet… There’s an important role to be had in re-innovating existing products in markets to bring transparency and provenance and then also the tracking of their second lives.”

Another Australian, Katrina Donaghy, co-founder of startup Civic Ledger, took her talents to London in 2014 to explore how she could integrate Bitcoin and blockchain into business. She told the Australian Financial Review that on arrival she was surprised to see the degree to which these technologies were already being utilized by London’s large financial institutions.

“If you just look at the companies that have done ICOs, there are very few women, but if you look at the ones that have been built based on customer validation and actually have sales, well most of the good blockchain companies that are still around were co-founded by women in the early days.”

In the US in 2018 ConsenSys teamed up with Black Girls Code, a non-profit organization providing tech training to young black women between the ages of 7 and 17. This established the first blockchain training program of its kind in the US which has plans to branch into US states and beyond. The program will eventually be available in Oakland, California, Atlanta, Georgia and in New York City, with plans to run in Johannesburg, South Africa. Black Girls Code CEO Kimberly Bryant commented:

“The ConsenSys team has consistently impressed me with their commitment to creating pathways for access and inclusion within the blockchain ecosystem and their passion for introducing these tools to the next generation of coders.”

The organization wishes to train a million girls by the year 2040, becoming a high-tech version of the Girl Guides. One aim is to ensure that minority groups in fintech have a space to grow and flourish encouraging innovative outside investments into such groups.

Amber Baldet is a household name in fintech, co-founder of Clovyr, well known for her work at JPMorgan as a leader of blockchain products, and developed the Ethereum based Quorum software designed to accelerate financial databases. Baldet left Wall Street to develop her own software by founding Clovyr and get startups on the road to using blockchain technology more effectively. She says:

“I’ve had the opportunity to talk to people who see things very differently… Being able to transition back and forth, I can help people understand each other and build stronger products together.”

Of gender diversity in the tech world she suggests, “People have tried to call out crypto as being better or worse…Diversity is a challenge across all tech subcultures.”

In the UK last year, the number of women showing an interest in investing in cryptocurrencies leaped from 6% to 13% over a six-month period. A City Am conducted by cryptocurrency firm London Block Exchange, showed that cryptocurrency was most popular with women in the millennials group. Another survey conducted by Reddit at the end of 2017 indicated that one out of five women had considered investing in cryptocurrencies with a huge 96% of Ether users being males.

What then of the uncelebrated names of the past year? Since last year, the United Nation’s World Food Programme (WFP) has distributed cryptocurrency-based food vouchers to more than 100,000 Syrian refugees living in Jordan, bypassing bureaucracy and getting aid to where it’s needed. The new project initiated by the WFP and UN Women was announced supporting the UN Women’s “cash for work” program running at both camps.

The cash for work program was organized by Syrian refugees to support local communities, offering them the opportunity to put something back into their new homeland. Typically, paid tasks included collecting waste, assisting with projects building homes, roads, and local schools, and in some cases working in education and the health industry as assistants. In areas which have seen destruction due to conflict and have since been liberated, refugees also participated with repairing heavily shelled infrastructure.

Cash transfers as part of that scheme enabled women assisting in the UN Women cash program to access their funds directly without a third party with accounts securely stored on a blockchain network. Women were thus enabled to pay for goods at participating supermarkets in Jordan by using one of a network of eye-scanners at their local supermarket, linking their cash to the Building Blocks program which was introduced for refugees at the Azraq camp in 2017.

UN Women continued its program to increase financial literacy rates among women by offering seminars at their “Oases”, encouraging recipients to examine their Building Blocks accounts online. Oases are safe spaces for women and children to congregate in the camps, where they can meet others and learn. They are usually funded through overseas aid and the host nation. UN Women Executive Director Phumzile Mlambo-Ngcuka explained the thinking behind its plans for women refugees in Jordan:

“We know that women in crisis situations and displacement settings tend to have lower digital literacy than men, and often lack access to the technology and connectivity that are so critical in today’s world.”

Ngcuka adds that such projects are designed to accelerate, as she put it, “progress towards women’s economic empowerment on a large scale”.

Humanitarian organizations have pointed out that women are disproportionately affected by such crises and consequently are often forced to become the primary breadwinners while taking care of their children and families as an extra burden.

Robert Opp, Director of Innovation at WFP, points out that it is a desire for “social good” which is driving the current use of blockchain technology by the organization:

“Blockchain technology allows us to step up the fight against hunger. Through blockchain, we aim to cut payment costs, better protect beneficiary data, control financial risks, and respond more rapidly in the wake of emergencies… using blockchain can be a qualitative leap, not only for WFP, but for the entire humanitarian community.”

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post International Women’s Day: Women and Crypto – The Direction in 2019 appeared first on BitcoinNews.com.

Asia and Australia: Crypto and Blockchain News Roundup 23rd February to 2nd March 2019

Asia

Asia and Australia

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

South Korea

ICONLOOP Denies That It Is Looking to Undertake an Ipo: Rumors concerning the launch of ICON’s Initial Public Offering (IPO) have been denied by ICONLOOP (South Korean company developing ICON).

Previously, a local media house reported that an anonymous source from the banking sector confirmed ICONLOOP’s plan to get listed on Korea Exchange by 2020. Moreover, Mirae Asset Daewoo Co. (a brokerage firm) was requested by ICONLOOP to lead the efforts of an IPO. The said news immediately gave rise to these rumors.

Singapore

Singapore’s GIC May Have Funded Coinbase, Says Report: Singapore’s sovereign wealth fund GIC Pte. may be involved in funding Coinbase, reports Bloomberg. According to various sources, Coinbase received around USD 300 million in terms of funding. In October 2018, against all the odds, Coinbase’s funding round gave it a valuation of USD 8 billion. However, both the parties have refrained from commenting on the matter.

Ranging from government bonds to private equity, GIC has a diverse investment portfolio. Reportedly, GIC has invested in over 40 countries and has a worth of over USD 100 billion.

Thailand

Thai Securities and Exchange Commission Updates the List of Approved Digital Assets: The list of approved digital assets that can be used as base trading pairs and in initial coin offerings (ICOs) has been expanded by Thailand’s Securities and Exchange Commission (SEC), notes an official statement.

The updated list now includes Bitcoin Cash (BCH), Ethereum Classic (ETC) and Litecoin (LTC). However, the said list already consists of Ethereum (ETH), Stellar (XLM), Bitcoin (BTC) and Ripple (XRP). All the digital assets present in this list can be used in compliance with Thailand’s national regulations. Nevertheless, none of the listed currencies can be used as legal tender, clarified SEC.

India

Supreme Court of India Orders the Union of India to Finalize Crypto Regulations: The Union of India has been ordered by the Supreme Court of India to present a regulatory framework for the crypto sector within four weeks. In case the Union is unable to present the framework, the Court will be prompted to come up with its own decision.  Moreover, the Supreme Court has refused to hear any case until a proper regulatory framework has been worked out.

Advocate Vijay Pal Dalmia (earliest petitioner in the case) maintained that the Union of India has been given the last opportunity to regulate the crypto sector.

Japan

Japanese Tech Giants to Launch Tamper-Free Education Certificates: Sony and Fujitsu will join hands in order to provide tamper-free education certificates backed by blockchain technology, announced Sony.

A field trial has been launched by Sony Global Education and Fujitsu Research Institute to evaluate the feasibility of using blockchain technology in order to manage exam grades and course records. Moreover, Human Academy (serving foreign students) will be a part of the said trial.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy:BitcoinNews.com

The post Asia and Australia: Crypto and Blockchain News Roundup 23rd February to 2nd March 2019 appeared first on BitcoinNews.com.

Asia and Australia: Crypto and Blockchain News Roundup 16th to 22nd February 2019

Asia

Asia and Australia

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Japan

Japan Central Bank Examines Digital Currencies Again: The Bank of Japan (BoJ) has released its annual comprehensive report to reassess the role of central bank digital currencies (CBDCs) in the prevalent monetary system. This report has attracted attention after last year’s report stating negative opinions about CBDCs. BoJ has cast light on several approaches to implement a CBDC and has analyzed the probable outcomes of each method.

It has also divided CBDCs into two broad categories, one accessible to the general public such as currencies while the other limited to large-value settlements. The report also states that since wholesale CBDCs will not enhance or modify the existing monetary system, its focus must be shifted to the general purpose currencies. 

The BOJ doesn’t have a good opinion of CBDCs and stablecoins currently available in the market and that is why it doesn’t classify them alongside cryptocurrencies.

Japanese Internet Giant Recruit Has a New USD 25M Blockchain Fund: Recruit Holdings, the USD 45 billion Japanese internet giant and the owner of Glassdoor and many other enterprises, has recently splashed some cash to launch a USD 25 million blockchain fund.

Based out of Singapore, the fund closed in November 2018, but it was revealed to the public only this week following the crypto fund’s first investment in BeamNow.

China

Major Chinese University Launches Blockchain Research Center: One of the highest merit universities in China, Fudan University, has recently inaugurated a blockchain research center named the Shanghai Blockchain Engineering Technology Research Center. This enormous step towards the development of blockchain technologies was taken in collaboration with Zhongan Online Property Insurance Co., Ltd. and Shanghai Zhongren Information Technology Co., Ltd.

The center aims to research and develop the latest blockchain technologies, discover new applications, and conduct talent training. It will also go a long way in further promoting the development of the blockchain industry in Shanghai.

Other universities in China are also helping the blockchain sector grow. Recently, the Blockchain Technology Research Scholarship Program (BRSP) was announced by the Institute for Fintech Research at Beijing’s Tsinghua University. The scholarship is considered extremely beneficial for the future development of the sector in China.

South Korea

Hyundai to Integrate Blockchain into Financial System with IBM’s Help: In the recent IBM Think 2019 event IBM and Hyundai Commercial have announced a partnership to work on the development of a blockchain financial system. The collaboration will include the development of a new supply chain financing ecosystem for Hyundai Commercial while IBM will employ open source Hyperledger Fabric blockchain technology to accelerate the development.

The blockchain-based financing ecosystem aims to replace the current manual processing with automatic processing to increase operational efficiency and enhance data security while offering a real-time view of all transactions on blockchain to all network participants such as the distributors, manufacturers, and dealers.

Thailand

Government Moves Forward with Digital Securities: The Government of Thailand is working to amend the existing securities laws to accommodate digital security assets in the country.

According to an article from The Bangkok Post: “National Legislative Assembly (NLA) is “paving the way for scripless securities issuance and tokenized securities leveraging blockchain technology,”

The crypto sector is already gaining traction in the South East Asian country and with increased regulatory clarity, it is expected to show further progress.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: BitcoinNews.com

The post Asia and Australia: Crypto and Blockchain News Roundup 16th to 22nd February 2019 appeared first on BitcoinNews.com.

Asia and Australia: Crypto and Blockchain News Roundup 9th to 15th February 2019

Asia

Asia and Australia

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Japan

Financial Regulator Declares Drop in Crypto Inquiries: The top financial regulator of Japan, Financial Services Agency (FSA) has announced that there has been a drop in crypto-related inquiries reported to the agency during Q4 2018.

In Q3, around 1231 inquiries related to cryptocurrencies were asked by the public but in Q4, only 788 were filed signaling an almost 36% drop. While there has been an increase in the number of inquiries in other regions, signifying a rising level of interest in cryptocurrencies among the public, latest statistics from Japan shows that either the Japanese public is getting more aware of crypto regulations or the interest in the sector is cooling down. Only time will tell what it actually is.

South Korea

Telecom Company to Help Launch Local Cryptocurrency: Gimpo area in South Korea is looking to launch a local cryptocurrency in the region and has awarded the contract to a local Telecom company KT Corporation. The new token named K Token will be available for the public in April of this year and tokens worth 11 billion Korean Wong will be launched in the initial phase.

As part of the pilot project, only merchants will be allowed to use the newly localized cryptocurrency. They will also be able to convert the coins into fiat on request. The local cryptocurrency approach is gaining traction around the world and many local governments are looking to launch their own currency in order to promote cashless transactions and increase transparency.

China

Billionaire Claims Patience Needed for Bitcoin Investment: Chinese Zhao Dong, one of the largest Over the Counter (OTC) traders in the world has said that the crypto community will need to show patience if it is to reap its profits. He claimed that it might be more than a year before the next bull run is witnessed.

He made these comments during an appearance in a WeChat group called “The Public Chain Alliance Crossing The Bulls And Bears Elite Team”. Zhao has previously claimed that Bitcoin will touch USD 50,000 by 2021 but investors need to show patience before it can actually reach that level.

Indonesia

New Rules Tough on Crypto Trading: New cryptocurrency futures trading rules announced by the government are being viewed with apprehension by the cryptocurrency community according to the local daily Jakarta Post.

The new rules state that crypto traders have to deposit 80 billion (USD 5.7 million) in order to take part in trading activities. the Trade Ministry’s Futures Exchange Supervisory Board (Bappebti) has also placed other restrictive measures against trading as well.

Cryptocurrencies are currently illegal in Indonesia but still, under the wraps a lot of trading takes place with Bitcoin traders even surpassing the number of stock market traders in the country last year.

Australia

IBM Brings Blockchain Water Conservation Projects in Australia: IBM is working on a new range of water conservation projects in Australia with a combination of the Internet of Things (IoT) sensors.

The initial pilot programmes will be used to track sustainable underground water usage in a country where water is scarce in many areas. The new platform is expected to use the company’s flagship Hyperledger blockchain system that is being used in other industries as well.

IBM is also trying to get into other industries including financial services and government branches to help expand the use of Hyperledger system.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: BitcoinNews.com

The post Asia and Australia: Crypto and Blockchain News Roundup 9th to 15th February 2019 appeared first on BitcoinNews.com.

IBM Launches Australian Blockchain Cloud Service, Second to Follow

IBM Launches Australian Blockchain Cloud Service, Second to Follow

IBM’s platform built on Hyperledger Fabric has launched its blockchain main net at its Melbourne-based data center in Australia.

Hyperledger is an umbrella project of open source blockchains and related tools, started in December 2015 by the Linux Foundation and supported by big industry players like IBM, Intel, and SAP to support the collaborative development of blockchain-based distributed ledgers.

The launch allows IBM customers to run their applications on the company’s cloud. A second Australian center is also planned for the end of March in Sydney. IBM Australia’s Head of Blockchain, Rupert Colchester, said that a second center would make the technology more widely available, adding, “Customers who are deploying blockchain applications have reached a maturity of projects that requires the data to be stored in Australia.”

Colchester highlighted the degree to which blockchain technology was now being used across all industries in Australia with many IBM clients now “trying to understand how best they can apply it to the business problems they have”.

An example of the growing use of blockchain at the corporate level in the country saw Australian real estate company Vicinity adding blockchain to its business operation in tandem with Australian energy tech company Power Ledger as part of a USD 75 million solar program, late last year.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post IBM Launches Australian Blockchain Cloud Service, Second to Follow appeared first on BitcoinNews.com.

Asia and Australia: Crypto and Blockchain News Roundup 2-8 February 2019

Asia

Asia and Australia

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Malaysia

New Amendments for Digital Asset Markets: Malaysian financial regulator, the Security Commission announced amendments to its Guidelines on Recognized Markets, bringing digital asset and crypto trading at par with equity crowdfunding and peer to peer financing.

Japan and South Korea

A Third of all Crypto Stolen in the World was from Japan and South Korea: A CipherTrace report has revealed that out of the USD 1.7 billion in crypto theft in 2018, a major portion was stolen from Japan and South Korea. Nearly one-third of the theft (USD 500 million) was from a single hack of Coincheck exchange in Tokyo.

Meanwhile, the Bank of Korea has said that the launch of a Central Bank Digital Currency (CBDC) in the country could threaten the existence of commercial banks. The report suggests that with blockchain based digital wallets acting as accounts for the central bank, people would simply not have the need to open bank accounts in commercial banks, leading to their ultimate demise.

On the other side of the sea, Japan’s financial regulator has released data on inquiries made in the last quarter of 2018. The data shows a near half decline in inquiries received by the financial regulator.

India

Indian Authorities Unsure about Impact of Cryptocurrencies: The Indian authorities are again at a confusion regarding the impacts of cryptocurrency on the economy. According to one report, they are worried that digital tokens could lead to a destabilization of the local Rupee.

With the debate taken to the highest levels in the financial and legislative arms of the government, a right to information report has revealed that the Indian government is looking outside its borders for advise on how to regulate the crypto sector.

In a publicly released information, Canadian crypto exchange, QuadrigaCX, has announced that the owner, Mr Cotten, died in the Indian city of Jaipur. The death occurred in a hospital, where he was brought in critical condition, caused due to his ongoing Crohn’s disease. The death occurred last December, but only now has it been made public.

Iran

Gold Backed Crypto Reportedly Launched by Iran: With reports surfacing for quite some time on the Persian nation developing its own national cryptocurrency, a small group of Iranian banks have teamed up with a blockchain startup to launch a gold-backed cryptocurrency. Dubbed the PayMon, nearly a billion tokens will be issued in the first stage.

Philippines

New Crypto Rules Set to be Enforced: A new set of rules are ready to be rolled out by the regulatory body, Cagayan Economic Zone Authority, in the Philippines. The first phase of the rules will be targeting crypto projects with crypto assets less than USD 5 million.

Australia

Australian Watchdog Registers 250 Exchanges: Australian Transaction Reports and Analysis Centre (AUSTRAC), the Australian financial regulator is keeping its lead in the crypto sphere with nearly 250 registered exchanges. With the latest license to operate a digital asset crypto exchange, CoinZoom joins the ever-increasing number of approved exchanges in the continental nation.

Australian Real Estate Preferring Cryptocurrencies: Australian real estate is also one of those business sectors that prefer operating with cryptocurrency. A regional housing report stated one the largest real estate agent claiming “We are happy to accept Bitcoin or any other major cryptocurrency instead of Australian dollars”. Even in the slump that has seen Bitcoin and other cryptocurrencies see a heavy crash in prices, it seems the real estate market is just as more interested in accepting digital currencies.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: BitcoinNews.com

The post Asia and Australia: Crypto and Blockchain News Roundup 2-8 February 2019 appeared first on BitcoinNews.com.

The US and Australian Real Estate Markets Still Want Buyers’ Bitcoins

The US and Australian Real Estate Markets Still Want Buyers Bitcoins

Whether it be in a bull or bear in 2019, there are some markets where cryptocurrencies are thriving; and in both the US and Australia that is very much the Real Estate Market, showing no respect for the downturn in Bitcoin’s value over the past months.

Properties are still being sold for cryptocurrency in 2019, a trend which has continued since late 2017 when the price of cryptocurrencies went sky high as Bitcoin almost reached the 20k mark.

Whether it be a Colorado beach home or a USD 2.3 million luxury estate with 14 acres in California, or in the same state a 70 BTC property with private beach club and restaurant membership, real estate agents are still happy to recommend to sellers that Bitcoin is OK.

Other blocks and parcels of land still available for crypto around the US include a 3 bedroom Key West estate on Saddlebunch key or if it is space a prospective buyer needs, how about a 300 acres block of land in Bouse, Arizona, currently on sale for fiat or digital assets.

In the US, the trend for sellers to accept crypto rather than not sell at all is still too much to resist, although current low values in cryptocurrency prices and uncertainty surrounding the future of the market after the 2018 slump may have encouraged some buyers to part with their crypto holdings for bricks and mortar, this hasn’t deterred those accepting crypto for property.

Australia is another property market currently attracting Bitcoin buyers. A regional housing report in Queensland recently cited Ray White Real Estate, one of the country’s largest agents, currently selling a luxurious three-bathroom home in Surfers Paradise for AUD 580,000 (USD 420,000) Also a Darwin apartment in the north of the continent is selling for either 126 BTC or AUD 600,00 (UDS 430,000) with the listing exclaiming: “We are happy to accept Bitcoin or any other major cryptocurrency instead of Australian dollars for this property.”

Another far less modest property advertised on an Australian website is a mid-century hillside estate, available for a cool AUD 3.3 million. “The seller may consider offers including consideration paid in bitcoin or other forms of cryptocurrency,” the ad informs.

 

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post The US and Australian Real Estate Markets Still Want Buyers’ Bitcoins appeared first on BitcoinNews.com.

Australian Regulators Pushing Crypto Into the Mainstream With Latest Move

AUSTRAC, Australian Regulators Pushing Crypto Into The Mainstream With Latest Move

Australia continues its pro-cryptocurrency stance with the country’s financial regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC) now having officially registered 246 cryptocurrency exchanges.

The land down under continues to maintain its cryptocurrency profile in the global arena. The eastern state of Queensland largely leads the way with AUSTRAC issuing its latest cryptocurrency license in December to US-based cryptocurrency exchange, CoinZoom.

Regulation is the key, according to many in the industry who feel it’s the reason Australia is becoming more accepting of the new technology than some other nations around the globe. Australia’s new prime minister Scott Morrison has also noted that the contributions of distributed ledger technology (DLT) and blockchain in the financial sector, suggesting that the new technology is opening “massive opportunities.”

Although the registration process with AUSTRAC can be an exacting, one industry player, Adrian Przelozny – the head of cryptocurrency exchange Independent Reserve, sees the importance of regulation in today’s crypto space.  “We always had the feeling that regulation is important to bring cryptocurrency into the mainstream,” he said, adding that the Australian banking system should be utilizing the technology in order to revamp areas of consumer data rights, open banking reforms, and new legislation.

All companies advertising cryptocurrency products must now register with AUSTRAC as new legislation was passed at the end of 2018 to protect users. Non-compliance with government agency rules will now be met with a registration refusal.

Michael McCarthy, chief market strategist at CMC Markets (which also offers Bitcoin trading) argues that the wild west attitudes have gone and, whereas in the past, government interference would have been met with disdain. The industry in Australian is now in a better space. He argues “Those newer participants in the market generally do seek regulation, they seek safety.”

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Australian Regulators Pushing Crypto Into the Mainstream With Latest Move appeared first on BitcoinNews.com.

Asia and Australia: Crypto and Blockchain News Roundup 19 to 25 January 2019

Asia

Asia and Australia

Welcome to another weekly blockchain news roundup from around the world. Here, we present to you all the latest Bitcoin news, continent by continent and country by country.

South Korea

Exchange Accidentally Drops Tokens to Users: Coinnest, a South Korean exchange accidentally airdropped cryptocurrencies worth USD 5.3 million to its users. The incident occurred when the exchange executed a command to airdrop We Game Tokens (WGT). A computer error caused other cryptocurrencies to be used instead of WGT.

A leaked footage of Samsung’s upcoming S10 mobile hints that it may have a built-in crypto wallet feature. The wallet feature has been labeled as “Samsung Blockchain Keystore” and apparently supports only Ethereum at the moment.

Japan

Financial Institution Funds Blockchain Project: The Tokyo-based financial institution, SBI Group, has funded crypto smart card wallet company Tangem. The reported amount is to the tune of USD 15 million. Tangem is one of the pioneering companies in blockchain that has created an ultra slim hardware wallet that it describes as “physical banknotes of bitcoin.”

The Japanese government has approved the trial of a Yen pegged stablecoin under its new sandbox regulations. The Yen based stablecoin will be tested by a subsidiary of the Japanese giant internet group, Digital Garage.

Singapore

Regulator Stops Token Event: The Monetary Authority of Singapore (MAS) has ordered the halt of a token generation event that aimed to distribute security tokens. The regulator insists that all security token offerings have to register with MAS and seek permission first.  An exemption is allowed if certain rules are followed, that include advertising. The issuer of the security token apparently violated the exemption rule by setting up a promotional article on LinkedIn.

Standard Chartered Singapore division has successfully completed its first blockchain based trade finance deal. The use of blockchain enabled an agricultural deal to be finalized and completed within a day. Normal, traditional banking in the country take around 5 days for the complete process.

Malaysia

New Regulations Introduced by Malaysian Government: To date, an astounding 15 new regulations have been introduced by the Malaysian government in a bid to bring order to the country’s chaotic crypto market. Such a large number of regulations may seem counterproductive to the crypto friendly country, but the government insists that through these, investors will gain confidence due to improved securities.

Thailand

Stock Exchange to Launch Digital Exchange: Stock Exchange of Thailand (SET) is set to start a regulated, fully compliant digital asset exchange in the country. The country’s national stock exchange will apply for the necessary licenses in the next year though, as reported by The Bangkok Post.

China

Chinese Varsity Teams up with Ripple: A Chinese university has teamed up with Ripple, the cryptocurrency aimed towards banks, to start a blockchain research scholarship. Beijing’s Tsinghua University’s Institute for Fintech Research announced the Blockchain Technology Research Scholarship Program that will bring the best and the brightest of the Chinese nation to study blockchain, its industry, and impacts.

Australia

ATM Operator Increased Sales: The crypto market may be down globally, but one bitcoin ATM operator in Australia says otherwise. Auscoin is an ATM firm that runs more than 30 automated teller machines across the continental country. According to the company, it generates USD 360,000 a week in sales through the selling of bitcoins.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: BitcoinNews.com

The post Asia and Australia: Crypto and Blockchain News Roundup 19 to 25 January 2019 appeared first on BitcoinNews.com.